Nigeria: Metal Vehicle Lock Market 2025

Metal Vehicle Lock Market Size in Nigeria

In 2021, after two years of decline, there was significant growth in the Nigerien metal vehicle lock market, when its value increased by 16% to $X. Overall, consumption, however, saw a deep slump. Metal vehicle lock consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Metal Vehicle Lock Exports

Exports from Nigeria

In 2021, metal vehicle lock exports from Nigeria reduced rapidly to X kg, declining by -99.2% against 2020. Overall, exports recorded a abrupt downturn. The pace of growth was the most pronounced in 2016 when exports increased by 789% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2020, and then shrank dramatically in the following year.

In value terms, metal vehicle lock exports declined markedly to $X in 2021. Over the period under review, exports saw a deep setback. The pace of growth was the most pronounced in 2016 with an increase of 612%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Niger (X kg) was the main destination for metal vehicle lock exports from Nigeria, with a 50% share of total exports. Moreover, metal vehicle lock exports to Niger exceeded the volume sent to the second major destination, Cote d'Ivoire (X kg), twofold. The third position in this ranking was taken by South Africa (X kg), with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Niger totaled +14.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cote d'Ivoire (-13.4% per year) and South Africa (+8.0% per year).

In value terms, Cote d'Ivoire ($X) remains the key foreign market for base metal motor vehicle locks exports from Nigeria, comprising 93% of total exports. The second position in the ranking was held by Niger ($X), with a 3.7% share of total exports. It was followed by South Africa, with a 1.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Cote d'Ivoire totaled -11.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Niger (+19.6% per year) and South Africa (+8.0% per year).

Export Prices by Country

The average metal vehicle lock export price stood at $X per ton in 2021, surging by 6.6% against the previous year. Overall, the export price, however, saw a slight contraction. The growth pace was the most rapid in 2019 when the average export price increased by 46% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Cote d'Ivoire ($X per ton), while the average price for exports to Zimbabwe ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Cote d'Ivoire (+2.2%), while the prices for the other major destinations experienced a decline.

Metal Vehicle Lock Imports

Imports into Nigeria

In 2021, imports of base metal motor vehicle locks into Nigeria dropped to X tons, shrinking by -6.5% against the year before. Overall, imports saw a dramatic contraction. The most prominent rate of growth was recorded in 2014 when imports increased by 124% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, metal vehicle lock imports rose notably to $X in 2021. Over the period under review, imports showed a abrupt decrease. The most prominent rate of growth was recorded in 2016 when imports increased by 164%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), Germany (X tons) and the United States (X kg) were the main suppliers of metal vehicle lock imports to Nigeria, together accounting for 80% of total imports. These countries were followed by Brazil, India, Taiwan (Chinese), France and Sweden, which together accounted for a further 11%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Brazil (with a CAGR of +30.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Brazil ($X) and China ($X) appeared to be the largest metal vehicle lock suppliers to Nigeria, with a combined 42% share of total imports.

Brazil, with a CAGR of +18.2%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average metal vehicle lock import price stood at $X per ton in 2021, surging by 14% against the previous year. In general, the import price enjoyed temperate growth. The growth pace was the most rapid in 2019 when the average import price increased by 211% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Brazil ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (-0.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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